Recently, I had the good fortune of borrowing two books called “100 Ways to Save Tax in Malaysia for Individuals” and “100 Ways to Save Tax in Malaysia for Partners and Sole Proprietors” by Richard Thornton. The books are part of a series, which address “100 Ways to Save Tax” for different target audiences.
Today, I’m interested in the tips that these books have, with regards to intellectual property.
In reading the first book (i.e. for individuals), I found that, for residents in Malaysia, the following income tax exemptions apply:
- They will be exempted the first RM10,000.00 of income earned each year from royalties for recording discs or tapes;
- They will be exempted the first RM20,000.00 of income earned from any musical composition (provided it is done not in the course of official duties); and
- They will be exempted the first RM20,000.00 of income eared from publication of, or right to use, any literary works (as defined in section 3 of the Copyrights Act 1987) or original paintings.
- novels, stories, books, pamphlets, manuscripts, poetical works and other writings;
- plays, dramas, stage directions, film scenarios, broadcasting scripts, choreographic works and pantomimes;
- treatises, histories, biographies, essays and articles;
- encyclopedias, dictionaries and other works of reference;
- letters, reports and memoranda;
- lectures, addresses, sermons and other works of the same nature;
- tables or compilations, whether or not expressed in words, figures or symbols and whether or not in a visible form; and
- computer programs,
but does not include official texts of the Government or statutory bodies of a legislative or regulatory nature, or judicial decisions, or political speeches and political debates, or speeches delivered in the course of legal proceedings, and the official translation thereof.
- activities or products promoted under the Promotion of Investments Act 1986 (pioneer status and investment tax allowance);
- technology-based activities listed on the MESDAQ market of Bursa Malaysia;
- Industrial Research and Development Grant Scheme; or
- Multimedia Super Corridor Research and Development Grant Scheme.
Patent, Trademark & Industrial Design Registration
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